Stein Mart, Inc. reported comparable store sales for the four-week period ended Jan. 29, 2011 decreased 1.2%. Total sales for the January four-week period were $62.8 million, a decrease of 1.6% from $63.8 million in the same period in 2010.
Sales performance in January was negatively impacted by adverse weather in the Northeast and parts of the Southeast and Midwest.
Total Sales (in millions)
Comparable Store Sales
|January (4 weeks)||$62.8||$63.8||-1.6%||-1.2%||-2.5%|
|Fourth Quarter (13 weeks)||$336.7||$341.8||-1.5%||-1.2%||-3.8%|
|Fiscal Year (52 weeks)||$1,181.5||$1,219.1||-3.1%||-1.8%||-5.6%|
In January, the home category and men’s furnishings had the strongest sales performance, while ladies’ Boutique and casual sportswear experienced weaker trends. Geographically, January sales were better than Company trend in Texas and Arizona, while sales were weaker in the Northeast and Midwest.
The Company had 264 stores in operation at the end of January compared to 267 at the same time last year. No new stores were opened or existing stores closed during January.